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Did you know you can withdrawal funds and make deposits at other credit unions?

Amicus is a part of the CO-OP Shared Branching network. The most popular credit unions in our area that participate in Shared Branching are STCU and Global Credit Union. To find a credit union near you visit:

Who is required to have mortgage insurance?

Typically on a conventional loan, if your down payment is less than 20 percent of the value of the home, lenders will require you to carry mortgage insurance. Usually, you pay those mortgage insurance premiums until your loan-to-value ratio (LTV) — this is simply the amount of money you borrowed divided by the value of the property you bought — hits 80 percent. For example, let’s say you bought a $100,000 home and put down 10 percent, or $10,000, and got a $90,000 loan to pay the rest. Your LTV in this case would be $90,000 divided by $100,000, or 90 percent. The longer you pay down your mortgage, the lower your LTV will become. On government loans, mortgage insurance is normally required regardless of the LTV.